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20130115
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and challenging issues facing each new city and town. energy, infrastructure, budgets, finance, crime. and i want you to know that we, the president and i come in the important part of that is the president, continues to be absolutely committed to do all we can to help the city steel with the immense problems take it rests upon them as a consequence of diminished tax bases and the consequence of housing significant portion of the public and states in the most need. we are committed to having a third phase of the so-called big deal and the budget. we are of the view but just as it took during the clinton administration, it didn't happen in one fell through to get our economy in great shape and move towards a balanced budget. it started out for three phases. started off with president bush's actions. first president bush in terms of taxation before president clinton took office in the action the president took in 94 and 97. well, we think there is a third phase here they consider country on a path that will allow us to get our debt to gdp, deficit to gdp down around 3%, which is all economists are
about immigration and energy policy, this one is going to have to get resolved one way or another before we can go back to the exciting ideas that can lead to the next waves in the economy. the other one is the political environment -- sorry. it can be hard to ignore, but were going to do it. another piece of the political environment, where we had the ability to fix the situation. we know to fix this. we needed a comprehensive dead deal that's big enough to stabilize the debt and we'll remember that. when you're trying to balance the budget. were not very. were not going to be there soon. you have to make sure that that's not faster than the economy and it's on a downward path and the problem is so big or too calm% year to look at every part of the budget. you have to look at defense spending. you have to clearly focused on health care costs, which go faster than the economy. we have to fix our social security system, which makes promises bigger than what we can pay out on the road. we have to raise revenues. we started down the path, but we haven't looked had to do about overhauling ta
for the last two years. the energy industry is looking much stronger. consumers are more optimistic than the university of michigan publishes the index of consumer sentiment, which is one of the very best guides with how consumers are feeling. as long as the fiscal policy keeps going, there will be some progress. we still have quite a ways to go before we will be dissatisfied. it is actually taken some of the pressure off of congress to try to address these fiscal challenges. the critics on both sides -- you should give the other guys a chance. >> i will get there. [laughter] >> okay. well, let me first say that as we think about the costs and risks of any policy, we should also think about what we are trying to accomplish and i have made reference already that the federal reserve has a dual mandate from congress to achieve maximum employment. price stability means low inflation we have basically taken that to mean 2% inflation and has been in the very low 2% range and appears to be on track for up to 2%. unemployment, as we have learned discussed, is still quite high. it has been coming
on the energy and force of newton, i would caution not to do that. it's galvanized the country to have an honest conversation and look internally and had a serious conversation. but the assault weapon ban was done without a columbine would have been in virginia. i do believe just in the last four years on the loudspeakers of politics would have been there has made all of us a discussion that is sitting on the sideline to be focused to introduces legislation or package and decide what legislatively he's going to do by executive order. but we are at a tipping point to have a discussion that's been postponed, delayed. but my small flashing yellow light of caution is anything to laugh time we really had success, which goes back to 93 and 94, those are pretty columbine. his entire package of five. spin a congressman, you had a reading from the nra and he voted for reducing the waiting time from three days to one bag. do you think read a tipping point, that there will be some kind of a seismic change? >> yeah, i do. since the topic is politics and then to add that a lot of people widely credited in 18
Search Results 0 to 3 of about 4